If We Ban High-Interest Loans, Should We Ban Unprotected Sex?

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Photo: Alaskan Dude via Flickr

Tyler Cowen of Marginal Revolution compares high-interest payday loans to unprotected sex:The unprotected sex is riskier and less prudent than borrowing money at an annualized rate of two hundred per cent.  Why prohibit one and not the other?  Many of the borrowers are being fooled, but others have legitimate reasons to seek the money, such as wanting to buy a birthday present for a visit to one’s child, living with a separated spouse.


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